£100 cashback when you switch using The Co-operative Bank switching service

The Co-operative Bank will also donate £25 to charity

But be aware that

Minimum monthly funding £800

Terms apply for the £100 offer. See 'more details' page or visit providers site for full details

Representative Example:

The advance of credit of £200 at an interest rate of 18.9% EAR variable.Debit interest of 18.9% per annum is charged on the total overdrawn balance. For overdrafts over £200 a £20 fee is payable on set up, when The Co-operative Bank agree new limits and upon each annual renewal of the overdraft. Subject to status.

Up to £185 reward

Earn up to £185 reward in the first year - made up of £125 for switching & 12x £5 reward each month you pay in £750+, pay out two different Direct Debits and stay in credit

Your switch is covered by the Current Account Switch Guarantee

But be aware that

Start your switch to Halifax by 5th of April to get £125 when you use the Current Account Switch Service and close your old account held elsewhere. If you've had £100 for switching since January 2012, we're sorry but you don't qualify

Limited offer. Account terms and conditions apply

Representative Example:

If you use a planned overdraft of £1,200, then Halifax will charge you £1 a day when you use it. Overdrafts are subject to status.

Earn up to 4% AER / 3.93% Gross variable interest on your balance up to £5,000

Get exclusive access to a range of great banking offers

But be aware that

For the monthly £5 fee to be waived, a minimum of £1,500 must be paid into your account each month

To qualify for credit interest you need to pay two different Direct Debits from your Club Lloyds current account each calendar month

Representative Example:

Up to £100 interest and fee free overdraft, subject to application and approval. If you use a Planned Overdraft of £1,200 on the Club Lloyds Account the overdraft interest rate Lloyds charge on the first £100 will be 0% EAR variable. The overdraft interest rate on the next £1,100 will be 19.94% EAR variable and a Monthly Overdraft Usage Fee of £6 will apply. You will not pay any fees or interest on an unplanned overdraft if you are overdrawn by £10 or less. EAR is the Equivalent Annual Rate. This is the actual annual rate of an overdraft. It doesn't take into account other fees and charges.

Many of us stick to our current account like glue in the fear that switching will be a stressful process.

Guide to current accounts

Current Accounts Guide

We’re getting generally better at switching financial products and shopping around for a better deal. But changing current account provider is something that continues to elude most of us. In fact, an estimated six out of ten adults have never switched their current account.

There are 54million current accounts in the UK, making them big business for banks. And, as they know that once they’ve got your custom, they are unlikely to lose it, it can result in some uncompetitive deals and customer service.

The big four banks – Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland, which owns NatWest – control more than 70% of the current account market even though their standard current accounts pay paltry, and in some cases no, interest. Their overdraft rates can be uncompetitive too so why do so many people stay put?

The common perception is that switching current account is a lot of hassle for little gain but this isn’t the case. Many banks now have dedicated switching teams which ensure the transfer process runs smoothly. And from September 2013, the Current Account Switch Service comes into effect. Amid other consumer guarantees, this will ensure the process takes a maximum of seven working days. So now is the time to stop being loyal to your bank and get more from your current account.

Read more

What should I look for when choosing a current account?

The assumption many people make is that current accounts are all pretty similar so it doesn’t really matter which provider you bank with. But, especially these days, that perception is a long way from the truth.

Some of the major providers are battling to attract new current account business by offering some fantastic deals, including upfront cash incentives. However, the product that is best for you will also depend on how you use your current account. So we’ve come up with some common customer profiles that should help you identify the key things to focus on when choosing a current account.

If your current account is usually in credit, look for a deal that pays a decent rate of interest – the choice of these is growing!

If you are usually overdrawn, look for the cheapest overdraft rates. Some accounts now also offer fee-free overdrafts for a certain time period.

Look at how you manage your bank account. Some current accounts are based only online for example so, if you prefer to transact face-to-face in a branch, these won’t be suitable.

If you do require branch access, and see an account that looks attractive, think about where the nearest branch of that bank or building society is as there’s little point moving your current account over if you’ll have to travel miles to get to a branch.

Think about whether you want to pay a monthly fee for a packaged current account which offers services such as breakdown cover and annual travel insurance.

Finally, if you frequently travel abroad, check out any foreign transaction fees for using your debit card as these also vary.

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Compare current accounts

The current account market offers some great deals for those willing to switch providers. Switching is simple because most of the legwork is done for you and, at the end of it, you can benefit from an account that’s much better for your pocket and lifestyle.

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